BidaskClub lowered shares of Blackline (NASDAQ:BL) from a buy rating to a hold rating in a research report report published on Wednesday morning.
BL has been the subject of several other reports. JPMorgan Chase & Co. lowered Blackline from a neutral rating to an underweight rating and set a $27.00 price target for the company. in a report on Thursday, January 25th. JMP Securities upgraded Blackline from a market perform rating to an outperform rating in a report on Thursday, November 16th. KeyCorp reiterated a buy rating and set a $46.00 price target on shares of Blackline in a report on Thursday, February 15th. Zacks Investment Research lowered Blackline from a hold rating to a sell rating in a report on Thursday, February 22nd. Finally, Robert W. Baird reiterated a buy rating on shares of Blackline in a report on Friday, February 16th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Buy and an average price target of $38.95.
Blackline (NASDAQ BL) traded up $0.09 during trading hours on Wednesday, reaching $40.24. The company’s stock had a trading volume of 199,913 shares, compared to its average volume of 510,556. Blackline has a 52 week low of $28.15 and a 52 week high of $45.19. The stock has a market cap of $2,120.00 and a PE ratio of -55.00.
Blackline (NASDAQ:BL) last released its earnings results on Thursday, February 15th. The technology company reported $0.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.12. The company had revenue of $50.23 million for the quarter, compared to analysts’ expectations of $47.69 million. Blackline had a negative return on equity of 6.53% and a negative net margin of 21.50%. The business’s revenue for the quarter was up 42.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.08) EPS. analysts expect that Blackline will post -0.28 earnings per share for the current fiscal year.
Institutional investors have recently made changes to their positions in the company. Metropolitan Life Insurance Co. NY acquired a new stake in shares of Blackline during the 4th quarter valued at about $175,000. Wolverine Trading LLC acquired a new stake in Blackline in the 3rd quarter worth approximately $246,000. First Republic Investment Management Inc. acquired a new stake in Blackline in the 3rd quarter worth approximately $257,000. MetLife Investment Advisors LLC acquired a new stake in Blackline in the 4th quarter worth approximately $248,000. Finally, PEAK6 Investments L.P. acquired a new stake in Blackline in the 3rd quarter worth approximately $267,000. Institutional investors and hedge funds own 79.93% of the company’s stock.
TRADEMARK VIOLATION WARNING: “Blackline (BL) Rating Lowered to Hold at BidaskClub” was first published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this article on another domain, it was illegally copied and republished in violation of United States & international copyright and trademark legislation. The correct version of this article can be read at https://www.dispatchtribunal.com/2018/03/15/blackline-bl-rating-lowered-to-hold-at-bidaskclub.html.
BlackLine, Inc is a holding company. The Company provides cloud-based software platform that is designed to automate and streamline accounting and finance operations. Its platform supports accounting processes, such as the financial close, account reconciliation, intercompany accounting and controls assurance.
Receive News & Ratings for Blackline Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackline and related companies with MarketBeat.com's FREE daily email newsletter.